According to a recent report published by Allied Market Research, titled, “Railway Telematics Market by Solution, Mode of Operation and Train Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global railway telematics market was valued at $4.98 billion in 2020, and is projected to reach $12.43 billion by 2030, registering a CAGR of 9.5% from 2021 to 2030..
Europe dominates the market in terms of revenue, followed by Asia-Pacific, North America, and LAMEA. France garnered the highest share in 2020. However, LAMEA is expected to grow at a significant rate during the forecast period, due to increase in infrastructural development across LAMEA region.
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The key players analyzed in this report are Alstom, Hitachi Ltd., Intermodal Telematics, Intrex Telematics, ORBCOMM, Railnova, Robert Bosch GmbH, Savvy Telematics, Siemens AG and Trinity Industries.
The global railway telematics market is segmented on the basis of solution, mode of operation, train type and region. Based on solutions, the global market is segmented into fleet management, collision detection & prevention, railway tracking & tracing and others. Based on mode of operation, the market is segmented into semi-autonomous and fully autonomous. Based on train type, the market has been segmented into passenger train and freight train. By region, the global railway telematics market report has been analyzed across North America, Europe, Asia-Pacific and LAMEA.
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Key Findings Of The Study
- By solution, the collision detection & prevention segment is expected to register a significant growth during the forecast period.
- Depending on mode of operation, the fully-autonomous segment is anticipated to exhibit significant growth in the near future.
- On the basis of train type, the freight train segment is projected to lead the global railway telematics market owing to higher CAGR.
- LAMEA is anticipated to register the highest CAGR.
Covid-19 Impact Analysis
- COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge.
- Lockdown measures have helped contain the spread of coronavirus, but exacted an immense economic toll.
- Rapid spread of the disease has led to a significant impact on the global transportation industry, with a downturn in need for using public transports.
- Moreover, countries, such as China, Norway, the Netherlands, and others, which were the leaders in automated railways have registered a decrease in passenger commuting during the pandemic.
- Industry experts believe that post the pandemic, the need to commute from one place to another through railways will increase as this is considered as the cheapest mode of travelling across cities.
- By the end of 2020, the situation was under control in some countries, due to which the demand & supply gap was fulfilled and there was significant growth in the product development, which have a wider application in developed railway.
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